Australia has been known for its supply of gas, iron ore and coal, making it a driving force in the economy for the past 5 years. Nickel, another well known metal element is set to make its mark in the mining industry. Little do we know that we are in abundance of this metal element – in fact, Australia is ranked number one worldwide with 24.4% in known reserves for nickel.
Australia is currently producing 11.4% of the world’s nickel supply, making it the fourth largest producer worldwide. Several suburbs may benefit from the potential of nickel, especially mining towns that have been recently affected by the mining slowdown, such as Gladstone and Townsville in Queensland. Once the potential of this element is harnessed, Nickel can be a driving force in the economy, lifting the mining sector, the labour force and the property market.
Read more about this on the Property Observer website.